Main Street Capital amended its revolving credit facility, extending the final maturity to September 2023 and increasing the total commitments from $585 million to $655 million while maintaining an accordion feature that allows for an increase up to $800 million.

According to a related 8-K filing, BB&T served as administrative agent on the transaction, while BB&T Capital Markets acted as lead arranger. In addition to BB&T, the lending group included Frost Bank, Royal Bank of Canada, Hancock Whitney Bank, Amegy Bank, Texas Capital Bank, Bank of Texas, Woodforest National Bank, City National Bank, First Financial Bank, Veritex Community Bank and Goldman Sachs Bank.

The interest rate for outstanding borrowings remains unchanged at the applicable LIBOR rate plus 1.875% so long as Main Street satisfies certain agreed upon excess collateral and leverage requirements. In addition to the extended maturity and increased commitments, Main Street continues to maintain two one-year extension options under the amended credit facility, which could extend the final maturity of the credit facility for up to two additional years, subject to certain conditions and lender approval.

Main Street is a principal investment firm that primarily provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies.